Andrew Carnegie the Businessman

Andrew Carnegie the Businessman
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Andrew Carnegie the Businessman
Andrew Carnegie is idolized for his skill of producing wealth. In 1848, at the age of twelve, he migrated from Scotland together with his poor parents (PBS). While working as a superintendent’s private secretary at the Pennsylvania Railroad, he was given an opportunity to buy stock. Soon he got his first dividend and by 1865, he was managing his dividend money. He also left his job at the railroad. This paper discusses how Carnegie used strategic management to create and hold his business.
Carnegie arrived in the United States without a dollar to call his own, but in 1901, he was considered the richest man on earth. At the height of his success, a young journalist known as Napoleon Hill approached him and wanted to know the story of his success. Carnegie recognized a special drive in Napoleon and decided that the journalist should document the strategies, which made him a great businessperson. Together, they pioneered Hill’s book titled "Think and Grow Rich," which remains a top-selling book.
The first strategy used by Carnegie was defining his purpose (Hill, 2014). He created a plan of action and started working towards it immediately. As evidence, he never stopped investing after gaining his first income in the form of dividends. The second strategy is creating a "mastermind alliance." Carnegie was a genius in creating perfect partnerships because his first friends were his railroad workmates, but he ended up associating with great people of his time. The next strategy is going the extra mile. By doing more than he had to do, Carnegie rose in ranks in the railroad company thus leading hi...